CANADA : DeZURIK is proud to be a supplier of valves for the Montreal Wastewater Treatment Plant expansion . The plant is currently the third largest in the world , and when this 10-year expansion is complete , it will be the biggest in ozonation facility in the world . DeZURIK valves going into the facility include 36 ” & 48 ” APCO brand CSD Slanting Disc Check Valves , along with a variety of APCO CRF Rubber Flapper Check Valves , ARV Air Release Valves and Combination Air Valves . |
Flowserve Corporation , a leading provider of flow control products and services for the global infrastructure markets , and Velan Inc ., a leading manufacturer of highly engineered industrial valves , announced that they have entered into a definitive agreement under which Flowserve will acquire Velan in an all cash transaction valued at approximately USD $ 245 million , including the purchase of all of the issued and outstanding Velan equity for approximately USD $ 209 million and the assumption of approximately USD $ 36.3 million in outstanding gross debt as of November 30 th , 2022 . Flowserve will also assume Velan ’ s USD $ 31.4 million of cash and cash equivalents , also as of November 30 th , 2022 . The transaction is expected to close by the end of the second quarter of 2023 .
Founded in Montreal in 1950 ,
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Velan is a leading manufacturer of industrial valves with a strong presence in the nuclear , cryogenic and defense markets . Velan is a family-controlled business , with a team of 1,650 people and manufacturing facilities in nine countries . Through its fiscal third quarter ended November 30 th , 2022 , Velan reported trailing twelve-month revenues of approximately USD $ 380 million with reported EBITDA of approximately USD $ 21 million . Upon completion of the transaction , Velan will become part of Flowserve ’ s Flow Control Division ( FCD ) segment .
Velan adds significant value within Flowserve ’ s existing valves portfolio and further builds upon Flowserve ’ s existing assets through the addition of Velan ’ s premier brands , strong heritage and technical expertise in attractive and diverse end markets .
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“ We are excited about the opportunity to add Velan and its talented team to the Flowserve family ,” said Scott Rowe , Flowserve ’ s President and Chief Executive Officer . “ With its strong positioning in the nuclear , cryogenic , industrial and defense markets and highly complementary product portfolio , the addition of Velan furthers our Diversification , Decarbonization and Digitization ( 3D ) strategy . The transaction |
also meets our disciplined financial criteria , bringing meaningful aftermarket revenue and synergy opportunities .”
Following closing of the transaction , Flowserve expects to maintain a significant presence in Québec , including Velan ’ s Montreal , Québec head office and the combined company will continue to maintain a significant global presence .
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BRAZIL : In 2022 , Baker Hughes Masoneilan won a critical API control valve package for the Mero-3 offshore FPSO project . Shipped in January 2023 , these severe service valves will control a wide range of onboard processes ranging from high-pressure water injection to high-pressure gas manifold management . The order includes forged duplex stainless steel valves that are API-6A compliant and capable of working pressures up to 15,000 psi . All valves will be ship mounted on the Mero-3 dedicated FPSO vessel Marechal Duque de Caxias , with production expected in 2024 . Mero-3 is the third of four Mero sectors in the Santos Basin offshore of Rio de Janeiro , managed by Petrobras , Shell , Total , and other partners , estimated to contain 3-4 billion barrels of oil . |
END USER INTERVIEW
Understanding the parameters and requirements of an approved manufacturers list ( AML ), is an endeavor many valve manufacturers , suppliers , and end users dedicate a significant amount of time to . The ability to develop a comprehensive grasp of the processes involved can make all the difference between being accepted or rejected from one such list . Trace Scrivner , Principal Engineer , Piping & Valves for ExxonMobil , has spent the better part of his dynamic career learning these processes .
Pages 4-6
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SPECIAL TOPIC : Hydrogen & Renewable Energy
Although many individuals and organizations talk about the energy transition and sustainability in general terms , most are unclear on how or when changes to support this transition will be implemented . Several forms of renewable energy sources , such as wind and solar , have been used for decades in various sectors globally . Other forms , such as hydrogen , while up and coming are not as widely understood .
Pages 10-12
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MARKET REPORT
The IEA estimates more than 7 trillion USD needed to be spent towards the hydrogen segment to achieve net zero emissions of greenhouse gases by 2050 . The organization also cites the disparity between the pledges being made by nations and the necessary steps being taken . Hundreds of millions of dollars will likely be spent on valves for hydrogen applications . There is an existing market in the steel and chemical industries and automotive companies are racing to be the first to use hydrogen fuel cells . The power industry is planning to burn hydrogen in gas turbines to replace at least some of the natural gas .
Pages 16 – 17
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Spotlight On ... |
2-3 |
Industry Outlook |
12-13 |
Meeting Point |
23-25 |
End User |
4-6 |
Special Topic |
14-15 |
Special Topic |
26-27 |
Throughout the Americas |
7 |
Market Report |
16-17 |
Tech Talk |
28-29 |
Special Topic |
8-10 |
Special Topic |
18-20 |
Case Study |
30-31 |
Throughout the Americas |
11 |
Products |
21-22 |
Final Words |
32 |